Narrow search
Showing 1 - 10 of 959
Cover Image
Keynesian Production Networks and the Covid-19 Crisis : A Simple Benchmark
Baqaee, David; Mendelson, Robert B. - 2021
The Covid-19 crisis is an unusual and seemingly all-encompassing economic shock. On the one hand, it was unquestionably … a negative demand shock that, for fixed prices and incomes, reduced household spending. On the other hand, it was also … unquestionably a negative supply shock that reduced firms' ability to maintain production at pre-pandemic prices and quantities …
Persistent link: https://www.econbiz.de/10013248260
Cover Image
Two Flaws in Business Cycle Accounting
Christiano, Lawrence J. - 2010
Using 'business cycle accounting' (BCA), Chari, Kehoe and McGrattan (2006) (CKM) conclude that models of financial frictions which create a wedge in the intertemporal Euler equation are not promising avenues for modeling business cycle dynamics. There are two reasons that this conclusion is not...
Persistent link: https://www.econbiz.de/10012760582
Cover Image
Trade and the Global Recession
Eaton, Jonathan - 2011
We develop a dynamic multi-country general equilibrium model to investigate forces acting on the global economy during the Great Recession and ensuing recovery. Our multi-sector framework accounts completely for countries' trade, investment, production, and GDPs in terms of different sets of...
Persistent link: https://www.econbiz.de/10013131675
Cover Image
The Great Trade Collapse
Bems, Rudolfs - 2012
We survey recent literature on the causes of the collapse in international trade during the 2008-2009 global recession. We argue that the evidence points to the collapse in aggregate expenditure, concentrated on trade-intensive durable goods, as the main driver of the trade collapse. Inventory...
Persistent link: https://www.econbiz.de/10013096140
Cover Image
Venting Out : Exports During a Domestic Slump
Almunia, Miguel - 2018
We exploit plausibly exogenous geographical variation in the reduction in domestic demand caused by the Great Recession in Spain to document the existence of a robust, within-firm negative causal relationship between demand-driven changes in domestic sales and export flows. Spanish manufacturing...
Persistent link: https://www.econbiz.de/10012906324
Cover Image
What Drives Aggregate Investment? Evidence from German Survey Data
Bachmann, Rudi - 2013
The ifo Investment Survey asks firms in the German manufacturing sector about the importance of sales, technological factors, finance, return expectations, and macroeconomic policy for their investment activity in a given year. We show that these subjective investment determinants 1) capture...
Persistent link: https://www.econbiz.de/10013082773
Cover Image
Sticky Information in General Equilibrium
Mankiw, N. Gregory - 2007
This paper develops and analyzes a general-equilibrium model with sticky information. The only rigidity in goods, labor, and financial markets is that agents are inattentive, sporadically updating their information sets, when setting prices, wages, and consumption. After presenting the...
Persistent link: https://www.econbiz.de/10012778241
Cover Image
A Theory of Housing Demand Shocks
Liu, Zheng - 2019
. The model predicts that a credit supply shock can generate large comovements between the house price and the price …
Persistent link: https://www.econbiz.de/10012890467
Cover Image
Does a Currency Union Need a Capital Market Union? Risk Sharing Via Banks and Markets
Martinez, Joseba - 2019
We compare risk sharing in response to demand and supply shocks in four types of currency unions: segmented markets; a banking union; a capital market union; and complete financial markets. We show that a banking union is efficient at sharing all domestic demand shocks (deleveraging, fiscal...
Persistent link: https://www.econbiz.de/10012867438
Cover Image
The Usual Suspects? Productivity and Demand Shocks and Asia-Pacific Real Exchange Rates
Chinn, Menzie David - 2021
The evidence for a productivity-based explanation for real exchange rate behavior of East Asian currencies is examined. Using sectoral output and employment data, relative prices and relative productivities are calculated for China, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore,...
Persistent link: https://www.econbiz.de/10013240954